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Bonfire

Bonfire built trends and intersects DOGEFinding true square and natural alignment with Bonfire indicator. Paying close attention to the advanced indicator and current price action, I found some hidden intersections that really matched well with some of my levels on previous charts. To use : Follow the price along each trendline and/or Gann fan. Does the price respect it? Look for wedges that build pressure for big moves up and down. Does the price stop right on the line or drop well below? Posting as neutral because we are at a fork in the road or decision node leaning towards a break upward. See Part 2 " The Flip Side" HERE
by CaptBlackBeard
Loaded Crypto Mkt Excluding BTC trends alignment and crossingsBased on finding true square from current limits, history, and time. I am leaving all lines and drawings on this one because there is some really good data to build on. If you follow each line and trend with the price, you will find that there is nothing random about the way things align with the price but also how each line intersects at a pivot in price or important level. I will post a stripped down version and link it to this one soon.
CRYPTOCAP:TOTAL2
by CaptBlackBeard
1
Symmetry based trends with sine. Using a hybrid drawing/indicator method to find center, mean, and tangents. From there, I found some interesting alignments and sine that capture the price repeatedly. Follow the price and use this as a tool to confirm your own interpretation. See how the price respects/crosses over/ breaks down as in interacts with the trends, vertical pivot lines, sine lines and levels. I'm big on balance and natural movement so these charts are great foundations for finding possible future price coordinates. Looks like a chance to climb to another ATH still remains but real volume and orders will be the deciding factor before the next major pivot is due.
BITSTAMP:BTCUSD
by CaptBlackBeard
1
Bonfire Fib built 45 trends and intersects BTCUSDPlease see chart with indicator turned on below: Found alignment and center using 144 days. From there, I used common intersection from square to dissect symmetrical trends and grids that should capture future price action. Follow the price along each line for confluence. Does the price respect the trend, breakup, or breakdown. Pay attention to your indicators and volume as the price approached these trends , levels and pivots. This chart has some good pattern data if you like reading into that.
BITSTAMP:BTCUSDLong
by CaptBlackBeard
2
Long term levels BTC log scale - Squared intersections Upon publishing the scale will be different: Use the scale on the right side to slide the drawings to align with price. See below for original. Testing Bonfire indicator to square a log scale chart to current price action. Natural alignment,tangents, and intersections used to build target levels, trends and possible pivots (look for line junctions). These levels could hit years from now but I would be willing to bet they are going to be great to find major support and resistance later on.
BITSTAMP:BTCUSDLong
by CaptBlackBeard
Per Request - SPX500 Squared Trends Pivots and Levels Using Bonfire indicator, I built this chart by request. Finding the square of an asset can really open things up from a visual standpoint. This allows users to bypass scaling variables and helps with finding natural movement, trends , levels and pivots. I often use these charts for confluence along with other indicators to help predict price action vs time. Watch how the price respects, follows, or fails at each line.
OANDA:SPX500USD
by CaptBlackBeard
6
My charts are too crazy !!!I know they are "chart cancer" to some people. Trust me... I know this... so you can move on if you feel that way. For those of you that power through my charts or follow me, you know I am big on using multiple concepts at the same time to bring confluence. I use my own charts for this instead of asking people and/or waiting for signals provided by others. My thought is : there is no such thing as having too much data available. I also repeat the fact that there is useful data in just about anything right or wrong. The chart you are looking at is from Feb 23, 2019 when BTC was in the bottom range. You can hit play on the link below the full version play out. You don't have to love the way a chart looks to use it. Tradingview has a great feature to replay your data from any point of time. I use often , only sharing a small percentage of my charts because I know they look like a mess to people wanting a simple read. I understand why they would want that. I want that too but this is the only way to cram as much data onto a chart at one time. As you can see, you can always take away drawings but you cant go back and get the same view on an asset that at that very moment. Having the price respect the lines only builds more trust and pattern understanding so why not make your own charts full of data ? I prefer making money over optics apparently. For those of you that stick around , thank you for your time and attention. I hope to make the process of reading my charts easier in the future.
BITSTAMP:BTCUSDLong
by CaptBlackBeard
6
DGB DigiByte Bonfire Squared plus fundamental reasoning! I'm Bullish DGB till the end (long term). DGB is fighting hard to stay above the 45 mean (square). I'll be watching these levels and pivots closely in the future. Breaking and staying above the 45 line will be very telling. This chart shows many failsafe options depending on your risk limits. As I mentioned, I am very bullish long term for DGB but will take advantage of any and all obvious "oversold/ overbought" opportunities with a percentage of my bag. CONCEPT : After squaring (45 degrees) the price to my objective interval, drawing horizontals (levels) to touch the bottom and top of each square has been a huge advantage for me the past year or so. The probability of pivots near or on the vertical sides of boxes should be on the winning side if you read the chart pattern correctly Price action and volume is showing us a new Digibyte than we have seen in the past. Sustaining pumps and rebounds quicker than before. This is why it is important to watch the current health of DGB when its on the (45) line like this. Big moves by Bitcoin have not altered its trajectory as much as other coins. That to me is a sign of strength. From a fundamental standpoint, at .03 USD it's easy to see why many are catching on to this coin with all of it's truly decentralized features, amazing apps/wallets, blazing speed, and security. It's also a popular coin for mining which is a big criteria for me right now. Being truly decentralized is the OG antibank idea.
Long
by CaptBlackBeard